TPG Capital, the largest shareholder of the Vita Group, has agreed to sell all of its shares in the company to investment firm Strategic Value Partners (SVPGlobal). The transaction is subject to the required regulatory approval, which is expected in Q2 2018.
On 3 April 2018, Polyurethane Machinery Corporation (PMC) announced a new partnership with distributor Cerexim SAC of Peru. From now on, the company will be representing PMC in the Latin America region.
AkzoNobel announced the sale of 100 % of its Specialty Chemicals business to investors The Carlyle Group and GIC for an enterprise value of EUR 10.1 billion. According to AkzoNobel, this transaction creates two focused businesses – Paints and Coatings, and Specialty Chemicals – as part of its strategy announced in April 2017. The transaction is expected to be completed before the end of 2018.
Mitsui Chemicals has announced its decision to set up a new production facility for Milastomer TPE at the Ohio plant of its US subsidiary Advanced Composites, Inc. There will be one production line; capacity is said to be 6,000 t/y. Construction start is scheduled for January 2019, completion for June 2019. Operations are expected to commence in October 2019.
Wacker Metroark Chemicals Pvt. Ltd. (WMC) has expanded its existing silicone production at its Amtala site near Kolkata, India, with a new hydrosilylation plant for manufacturing functional silicone fluids. The plant with an annual capacity of over 6,000 t was officially opened on 20 March 2018.
The market research company Ceresana has analysed the global market for adhesives and sealants based on polyurethane. Until 2024, the analysts expect an increase in revenues generated with these products to more than USD 9.7 billion. Adhesives and sealants based on other products are not included in this study. The study is titled: “Market Study: PUR – Adhesives & Sealants”.
Freudenberg is further expanding its car floor mat business. In Germany, the Japan Vilene Company, a Freudenberg business group, has signed an agreement to acquire Hanns Glass GmbH & Co. KG, Grafing, Germany.
The Boge Rubber & Plastics Group, an automotive supplier in the field of rubber-metal and plastics technology, has been nominated on a large scale by the automobile manufacturer Daimler for a global vehicle platform.